CANAL+ continues to increase its stake in Multichoice, now exceeding 30% of the capital.
This "threshold crossing demonstrates the confidence of the Canal+ Group and its shareholder Vivendi in the prospects for MultiChoice and the African continent, to which they are very attached," Canal+ said in a statement.
Since 2020, the CANAL+ group, which held 6.5% of the capital, has increased its stake in Multichoice several times, becoming the largest shareholder in September 2021 with 15.37%, then with 18.44% in June 2022. It now holds 30.27% of the shares.
It should be noted that according to South African regulations, a foreign shareholder cannot hold more than 20% of the voting rights in the media sector.
MultiChoice has more than 22 million subscribers in over 50 countries, with approximately 40% of these subscribers located in South Africa.